Wingstop’s (WING) Overweight Rating Reaffirmed at Stephens

Wingstop (NASDAQ:WING)‘s stock had its “overweight” rating reaffirmed by Stephens in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $490.00 price target on the restaurant operator’s stock. Stephens’ price target suggests a potential upside of 36.62% from the stock’s current price.

WING has been the topic of several other reports. Piper Sandler upped their price objective on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays raised their price target on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley lifted their price objective on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. TD Cowen restated a “buy” rating and set a $450.00 target price on shares of Wingstop in a report on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price target on Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Wingstop has an average rating of “Hold” and a consensus target price of $382.88.

Wingstop Price Performance

Shares of Wingstop stock traded down $7.96 during midday trading on Thursday, hitting $358.65. 176,698 shares of the company were exchanged, compared to its average volume of 432,113. The firm has a 50 day simple moving average of $395.62 and a 200-day simple moving average of $388.71. The firm has a market cap of $10.51 billion, a P/E ratio of 127.63, a PEG ratio of 3.64 and a beta of 1.71. Wingstop has a 52 week low of $173.74 and a 52 week high of $433.86.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The firm had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. During the same period in the prior year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 45.3% compared to the same quarter last year. Equities research analysts expect that Wingstop will post 3.8 earnings per share for the current year.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the sale, the senior vice president now owns 97 shares in the company, valued at approximately $36,152.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Institutional Trading of Wingstop

Institutional investors and hedge funds have recently modified their holdings of the stock. Fulton Bank N.A. grew its holdings in Wingstop by 5.0% during the third quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares during the period. CIBC Asset Management Inc boosted its position in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock valued at $318,000 after buying an additional 31 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Wingstop by 60.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 106 shares of the restaurant operator’s stock worth $44,000 after buying an additional 40 shares during the period.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.